http://www.uglychart.com/2007/12/12/new-position-in-mercadolibre-inc-meli/ Beauty is in the eye of the shareholder Thu, 04 Dec 2008 00:03:05 +0000 http://wordpress.org/?v=2.6.1 http://www.uglychart.com/2007/12/12/new-position-in-mercadolibre-inc-meli/#comment-35577 uglychart.com: a blog about stocks » Blog Archive » Mercadolibre, Inc. (MELI) does it again Thu, 27 Dec 2007 07:15:22 +0000 http://www.uglychart.com/2007/12/12/new-position-in-mercadolibre-inc-meli/#comment-35577 [...] Wow. MELI up another 20%+ today. I’m home in Ohio this week and haven’t been doing much work or paying attention to the market that much. But before I left, I was going over the stocks on my watchlist and I noticed that I really wanted to get some more MELI. I wanted to load up - it just looked very nice. So I logged into my account on Monday morning and bought a small position. I knew I would regret it if I didn’t. Before, with a hot stock like this, I often sold it after a great move - only to watch it move A LOT higher after trading right around where I sold it for a few days. When MELI wouldn’t drop much lower than where I sold it, I decided to get some - and boy did it pay off. Damn. I was pretty happy when I logged in today and saw it was up 8 points and then when I logged on again after the close and managed to sell half just under $73 (I bought it under $61 on Monday). MELI looks like a sure bet to $100 and beyond. This month has been awesome. I made more from trading than I did from my job. I can’t believe it. It’s one of my best months in terms of dollar returns even over the almost 2 years that I traded full-time. My account is up 30%. The crazy thing is that I am not even betting that big. I’m not using much margin - my positions have been very small and my risk per trade has been very low. And I’m spending a lot less time trading and studying the market. I used to spend hours each day trading in and out of stocks. Now I am spending at most one hour in the evening looking over stocks. The amount of stress and pressure I have with trading has dropped from an overwhelming amount to zero. Mostly, though, this month has proved to me that I can be successful trading this way. I only traded 6 stocks this month and my trading commissions totaled under $30. When I was day trading, my trading commissions were over a thousand dollars. My biggest winner was MELI - second was FCSX. My only losing trade was with CRM. I’m still holding small positions in FCSX, GEOY, and MELI. [...] [...] Wow. MELI up another 20%+ today. I’m home in Ohio this week and haven’t been doing much work or paying attention to the market that much. But before I left, I was going over the stocks on my watchlist and I noticed that I really wanted to get some more MELI. I wanted to load up - it just looked very nice. So I logged into my account on Monday morning and bought a small position. I knew I would regret it if I didn’t. Before, with a hot stock like this, I often sold it after a great move - only to watch it move A LOT higher after trading right around where I sold it for a few days. When MELI wouldn’t drop much lower than where I sold it, I decided to get some - and boy did it pay off. Damn. I was pretty happy when I logged in today and saw it was up 8 points and then when I logged on again after the close and managed to sell half just under $73 (I bought it under $61 on Monday). MELI looks like a sure bet to $100 and beyond. This month has been awesome. I made more from trading than I did from my job. I can’t believe it. It’s one of my best months in terms of dollar returns even over the almost 2 years that I traded full-time. My account is up 30%. The crazy thing is that I am not even betting that big. I’m not using much margin - my positions have been very small and my risk per trade has been very low. And I’m spending a lot less time trading and studying the market. I used to spend hours each day trading in and out of stocks. Now I am spending at most one hour in the evening looking over stocks. The amount of stress and pressure I have with trading has dropped from an overwhelming amount to zero. Mostly, though, this month has proved to me that I can be successful trading this way. I only traded 6 stocks this month and my trading commissions totaled under $30. When I was day trading, my trading commissions were over a thousand dollars. My biggest winner was MELI - second was FCSX. My only losing trade was with CRM. I’m still holding small positions in FCSX, GEOY, and MELI. [...]

]]> http://www.uglychart.com/2007/12/12/new-position-in-mercadolibre-inc-meli/#comment-35411 uglychart.com: a blog about stocks » Blog Archive » My “position” trade in Mercadolibre, Inc. (MELI) Sat, 15 Dec 2007 06:04:48 +0000 http://www.uglychart.com/2007/12/12/new-position-in-mercadolibre-inc-meli/#comment-35411 [...] I mentioned a few days ago that I opened a position trade in MELI because it looked awesome. MELI is awesome - Cramer is right (he must read uglychart.com) - and I think it will go over $100 a share early next year and possibly much more. But I sold my entire position today for an average price of around $61 - for a 28% return in three days: A position trade turned into a swing trade. I will most likely regret selling my entire position now, but it is a big gain in a short time, so I am going to try to get back in at a better price or a low-risk spot. I’ve tried doing that before with other hot stocks and they ran away without me. The main reason I sold it all today is because it went nuts just on the Cramer hype - I don’t like that. But I love the chart and the way this stock moves - it’s hot and one to keep a close eye on. [...] [...] I mentioned a few days ago that I opened a position trade in MELI because it looked awesome. MELI is awesome - Cramer is right (he must read uglychart.com) - and I think it will go over $100 a share early next year and possibly much more. But I sold my entire position today for an average price of around $61 - for a 28% return in three days: A position trade turned into a swing trade. I will most likely regret selling my entire position now, but it is a big gain in a short time, so I am going to try to get back in at a better price or a low-risk spot. I’ve tried doing that before with other hot stocks and they ran away without me. The main reason I sold it all today is because it went nuts just on the Cramer hype - I don’t like that. But I love the chart and the way this stock moves - it’s hot and one to keep a close eye on. [...]

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